Noble Mineral Exploration Updates Progress in Mineral Exploration Assets and Technology Business Evaluation
TORONTO, ONTARIO / TheNewswire / August 9, 2016 - Noble Mineral Exploration Inc. (the "Company" or "Noble") (TSX-V: NOB) is pleased to announce that it has recently carried out a geophysical interpretation of the airborne anomalies on the Company's Project 81 mineral rights and is continuing its ongoing evaluation of new technology-based opportunities in the consumer space.
Mineral Exploration Prospects, Project 81
In order to move the Company's mineral projects forward, the Company has recently completed an updated prioritization of the geophysical targets on its main property, Project 81 in the Timmins-Cochrane area. A new Slide Presentation incorporating this information has been posted to the Company's website www.noblemineralexploration.com which we would encourage you to review. A number of strong drill ready VMS and gold targets have been identified. In addition the Company intends to carry out a proprietary airborne test gravity gradiometer survey over the entire Project 81 claim block by the end of the year. If the survey identifies a gravity anomaly associated with an EM hi/Mag low geophysical anomaly, it would indicate a signature similar to the nearby Kidd Creek mine currently celebrating its 50th anniversary.
With better junior resource financial markets at hand, it is contemplated that the Company could package its mineral assets into two distinct vehicles with one focused on its gold-related exploration assets and the other on its base metals, VMS and nickel assets. The gold related assets would include those identified in Project 81 in Lucas, Aubin and Dargavel townships together with its Wawa-Holdsworth gold oxide sand project.
It is intended that the shareholders of Noble would be provided the opportunity to participate in both. Please note that any such transactions would be subject to Board and TSX Venture Exchange approvals.
High Technology Opportunities
Following a preliminary survey and initial approaches to a number of privately-held firms in the Internet of Things space, Noble has advanced to in-depth discussions with several firms, including the signing of Non-Disclosure Agreements (NDAs) where warranted, and an analysis of current business plans and their compatibility with potential initiatives in optical wireless communications (OWC) type applications in the Internet of Things (IOT).
IOT refers to the use of embedded sensors, transceivers, and other devices to network objects; the status of such objects may be used to optimize products, services, and operations in commercial applications. OWC is one of several high-speed short-range communications options being evaluated as ventures in which Noble might seek to become active, and includes visible light communication and free space optics.
This initiative continues to be led by Dr. Samuel Peralta and the framework of Dr. Peralta's recommendations to the Board is modelled after the pivot of Tandem Resources Ltd. into POET Technologies Inc. ("POET") through the acquisition of OPEL Inc. Initially a photovoltaics company, POET further pivoted into a company providing advanced monolithic optoelectronic platform solutions and, fuelled by recent acquisitions, into a semiconductor device manufacturer with operations in Canada, the US, Europe and Asia. Dr. Peralta was a founding Board member of POET, and was a key figure in both of its pivots.
It should be noted that the Company has neither entered into the technology space nor concluded business arrangements with the privately-held IOT companies signed under NDAs with Noble. Noble activities in this space remain at an investigative stage, and it is the Company's intention not to disclose specific developments with respect to its progress in this space, unless and until the Board has approved a course of action. An entry into the technology sector will be subject to regulatory compliance, including shareholder approval.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian based junior exploration company holding in excess of 70,641 hectares of mineral rights in the Timmins - Cochrane areas of Northern Ontario. The Company also holds a portfolio of diversified exploration projects at various stages of exploration Gold in the Wawa area of Northern Ontario, and Uranium in Northern Saskatchewan. More detailed information is available on the website at www.noblemineralexploration.com.
Cautionary Statement:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
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